Dynamic Technology Lab Private Ltd Reduces Holdings in PROG Holdings, Inc. (NYSE:PRG)

Dynamic Technology Lab Private Ltd trimmed its stake in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 64.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,090 shares of the company's stock after selling 11,242 shares during the period. Dynamic Technology Lab Private Ltd's holdings in PROG were worth $295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PRG. Whittier Trust Co. bought a new position in shares of PROG in the 3rd quarter valued at about $26,000. Financial Management Professionals Inc. acquired a new position in shares of PROG in the third quarter worth about $33,000. GAMMA Investing LLC increased its stake in PROG by 72.0% during the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company's stock worth $39,000 after buying an additional 337 shares in the last quarter. Point72 DIFC Ltd purchased a new position in PROG during the second quarter worth approximately $47,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of PROG during the 1st quarter worth about $59,000. Institutional investors own 97.92% of the company's stock.

PROG Stock Performance

Shares of PRG traded down $0.24 during midday trading on Monday, reaching $48.42. 416,491 shares of the stock were exchanged, compared to its average volume of 408,748. The company has a quick ratio of 2.34, a current ratio of 4.97 and a debt-to-equity ratio of 0.94. PROG Holdings, Inc. has a twelve month low of $27.84 and a twelve month high of $50.28. The company has a market cap of $2.01 billion, a P/E ratio of 13.49 and a beta of 2.11. The stock's 50 day simple moving average is $47.15 and its 200 day simple moving average is $42.24.

PROG (NYSE:PRG - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.01. PROG had a net margin of 6.55% and a return on equity of 24.56%. The business had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. During the same quarter last year, the firm earned $0.90 earnings per share. PROG's quarterly revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts expect that PROG Holdings, Inc. will post 3.35 earnings per share for the current year.

PROG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. PROG's dividend payout ratio (DPR) is presently 13.30%.

Insider Buying and Selling

In related news, CFO Brian Garner sold 5,000 shares of PROG stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $49.29, for a total value of $246,450.00. Following the completion of the transaction, the chief financial officer now owns 107,720 shares in the company, valued at approximately $5,309,518.80. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Todd King sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $46.97, for a total transaction of $70,455.00. Following the transaction, the insider now directly owns 37,017 shares in the company, valued at approximately $1,738,688.49. This trade represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,207 shares of company stock worth $5,759,152. Corporate insiders own 2.74% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PRG. TD Cowen raised PROG to a "strong-buy" rating in a report on Friday. Jefferies Financial Group upped their target price on shares of PROG from $50.00 to $58.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. Stephens began coverage on shares of PROG in a research report on Wednesday, November 13th. They set an "overweight" rating and a $60.00 price target on the stock. Raymond James raised PROG from a "market perform" rating to an "outperform" rating and set a $48.00 target price on the stock in a research report on Thursday, October 24th. Finally, KeyCorp boosted their price target on shares of PROG from $46.00 to $55.00 and gave the company an "overweight" rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $53.83.

About PROG

PROG Holdings, Inc NYSE: PRG is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.